Swatch Names Nayla Hayek to Replace de Narp as Harry Winston CEO

By Julie Cruz -
May 10, 2013

Swatch Group AG (UHR), the biggest maker of
Swiss timepieces, said Nayla Hayek will replace Frederic de Narp
as leader of the Harry Winston luxury jewelry and watches unit
following its acquisition of the brand earlier this year.

Hayek, the daughter of Swatch co-founder Nicolas Hayek and
sister of Chief Executive Officer Nick Hayek Jr., will become
Harry Winston CEO with immediate effect, Beatrice Howald, a
spokeswoman for the Biel, Switzerland-based company, said today.
She was already chairwoman of Harry Winston, a role she took
when Swatch acquired the jeweler in March for about $1 billion.

De Narp, a former Cartier executive who was appointed CEO
of New York-based Harry Winston in January 2010, has left the
company, Howald said by phone. Before joining the maker of the
Opus 12 watch, de Narp spent 18 years at Cartier, latterly as
CEO for the company’s North American business.

Swatch agreed to acquire Harry Winston in January to
compete against Cartier, a unit of Cie. Financiere Richemont SA (CFR),
in the market for jewelry watches. The acquisition was the
biggest ever for Swatch, which sells timepieces under brands
such as Breguet, Omega and Tissot.

Celebrities including Halle Berry, Madonna and Gwyneth Paltrow have worn Harry Winston diamonds at red-carpet events.
The brand, which was created in 1932, has stores on Rodeo Drive
in Beverly Hills and on the avenue Montaigne in Paris.

Sales at Swatch’s watch and jewelry unit climbed 16 percent
to 7.3 billion francs ($7.66 billion) in 2012. CEO Hayek has
said he expects mainland China’s watch market to expand about 10
percent in 2013, helped by demand for mid-range and entry-level
pieces. Hayek has said he sees no reason for the Swiss watch
industry not to have “healthy” growth this year.